Saputo’s (SAP) “Hold” Rating Reiterated at Desjardins
Desjardins reaffirmed their hold rating on shares of Saputo (TSE:SAP) in a research report released on Wednesday morning, Zacks.com reports. Desjardins also issued estimates for Saputo’s Q2 2020 earnings at $0.43 EPS, Q3 2020 earnings at $0.47 EPS, Q4 2020 earnings at $0.37 EPS, FY2020 earnings at $1.69 EPS and FY2021 earnings at $1.91 EPS.
Several other equities analysts have also weighed in on the company. Royal Bank of Canada cut their price target on Saputo from C$50.00 to C$49.00 and set an outperform rating for the company in a research note on Thursday. National Bank Financial restated a sector perform rating and issued a C$43.00 price target on shares of Saputo in a research note on Thursday. TD Securities lifted their price target on Saputo from C$41.00 to C$45.00 and gave the company a hold rating in a research note on Friday, August 9th. Finally, CIBC cut their price target on Saputo from C$47.00 to C$43.00 and set a neutral rating for the company in a research note on Friday, June 7th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Saputo presently has an average rating of Hold and an average price target of C$45.33.
SAP stock traded down C$0.02 during midday trading on Wednesday, reaching C$39.97. The stock had a trading volume of 181,440 shares, compared to its average volume of 459,587. The stock has a market cap of $15.82 billion and a PE ratio of 20.83. The company has a debt-to-equity ratio of 91.33, a quick ratio of 0.55 and a current ratio of 1.29. The firm has a fifty day simple moving average of C$40.48 and a two-hundred day simple moving average of C$42.62. Saputo has a 52-week low of C$35.56 and a 52-week high of C$46.41.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, September 13th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Friday, August 30th. This is a positive change from Saputo’s previous quarterly dividend of $0.17. Saputo’s payout ratio is currently 35.44%.
Saputo Inc produces, markets, and distributes dairy products in Canada, the United States, Argentina, Australia, and internationally. It offers cheese products, including mozzarella and cheddar; specialty cheese, such as ricotta, provolone, parmesan, goat cheese, feta, and havarti; fine cheese, such as brie and camembert; other cheese, including brick, colby, farmer, munster, monterey jack, fresh curd, and processed cheese; and butter.
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